Hubert Senters here.
Let’s take a look at GLD. I’m looking at a weekly chart. Last time we were talking about GLD where a recommendation of a long around there one thirty one thirty on $130-$131 area it has moved above that. It got to a high of $146 so nice little move.
It’s going to pull back. It’s time for a pullback. It’s had a nice little vertical consolidation, vertical. Now, we’re to consolidation and this time we’ll pull back a little bit. Now, we could pull back on GLD and I trade a lot of futures, I also trade a lot of stocks.
If you don’t have access to a futures account you can always do stuff in GLD and GLD is probably going to pull back about $139.48 and potentially do about the same distance there so I’m just going to get relatively simple here and go okay. That was the last move and here will be the next move then we’ll put a horizontal line here and say $162.
So if you want to have more insights and tactical strategies on how to trade gold I’m going to be doing a Gold Trading 101 webinar on Wednesday August 11th at 8PM EST. I will HYPERLINK you.
Which is just a fancy way of saying I’m going to lead you over to a registration page and all you have to do is click claim my spot now, put in your primary email address and your first name so I know who you are and I’ll see you on the webinar Wednesday, August 11th at 8PM EST.
Good luck. Hope it helps. See you on the next video.